shutterstock_1533100223_konektus-photo
shutterstock/Konektus Photo
15 April 2021Insurance

Willis Towers Watson launches Climate Diagnostic tool to enhance hazard modelling

Willis Towers Watson has launched a new global climate modelling tool called Climate Diagnostic.

Climate Diagnostic uses advanced data and analytics to model changes in acute hazards such as extreme wind and flood, and chronic stress factors like sea-level rise and heat stress, in various climate scenarios and time horizons.

The modelling shows how changes can impact specific properties, enabling clients to determine how best to mitigate risk across their property portfolios and key locations worldwide. It helps Willis Towers Watson’s clients respond to climate-risk disclosure requirements such as the Task Force on Climate-related Financial Disclosure (TFCD) and develop strategic responses to the climate transition.

It provides a climate change atlas of climatic and exposure maps with options to view high-risk areas, locate individual assets and identify the relative impact of each hazard, and adaptable time projections and climate scenarios to explore relative risk over time. It also provides summaries both at an aggregate level and broken out by region, time horizon or risk.

Climate Diagnostic forms part of Willis Towers Watson’s Climate Quantified product suite and is fully integrated into the broker’s core analytics platform of risk assessment and quantification tools.

John Merkovsky, global head of risk and analytics at Willis Towers Watson, said: “We believe that the more organisations learn about climate risk, the more they will see that the thinking, analytic techniques and tools that are required for this new future are familiar to risk managers today.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
6 May 2021   Climate Transition Pathways provides a consistent approach for assessing how companies are transitioning to a low-carbon economy.
Insurance
19 April 2021   The broker also promised to reduce its greenhouse emissions across its business operations by at least 50% by 2030.
Insurance
20 January 2021   The impact of climate change and ESG are key factors transforming the renewable energy industry risk landscape.